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Virtual Reality Puts Prospects ‘Inside’ Furnished Units

MULTIFAMILY EXECUTIVE

Sep 22, 2016

A new residential community in San Diego won’t be complete until 2017, but prospective buyers can take 3-D tours of the luxury project now, thanks to a new virtual reality (VR) experience.

At The Park in Bankers Hill, San Diego-based developer Zephyr is using technology that lets buyers virtually see units and preview amenities and views. Donning a VR headset, which fits over users’ eyes and displays 3-D images, buyers can turn their heads and look up and down to see comprehensive views of the 60-unit property.

“We wanted buyers to be able to experience what life would be like living at The Park,” says Zephyr co-CEO Brad Termini. “With VR, it’s possible. Buyers have a 360-degree view of the homes, including the downstairs and upstairs, can see the amenities and more. It helps take the guessing out of buying a home that is under construction.”

Unlike most VR experiences that use photography to mimic real life, Zephyr used realistic renderings, which provide more design flexibility, Termini says. Prospective buyers can take tours of the penthouse units, townhomes, tower residences, and amenities, which include a pool, fitness center, yoga studio, clubroom, and terrace with fire pits.

“We envision endless possibilities with this technology,” says Termini. “Someday, we’ll be able to design homes on the spot, change out features and finishes, add a room, etcetera- all in real time while buyers ‘stand’ in the homes and provide feedback.”

A growing trend in the technology industry, the virtual reality market is expected to explode over the next 10 years, with Goldman Sachs research projecting that, by 2025, VR will be an $80 billion industry, the size of today’s PC market.